when an amountis declared as NPA by a bank whether any
interest can be debited to that account after the date it
is declared as NPA ? What are the guidelines of Reserve
Bank of India in this respect ?
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Answer Posted / Kunal
Once an account is classified as a Non-Performing Asset (NPA) by a bank, no further interest should be charged on that account from the date of default. The guidelines set forth by the Reserve Bank of India mandate that banks should refrain from charging any additional interest after the due date for NPAs, unless specifically authorized under exceptional circumstances.
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